S 2267
117th Congress
Senate
Taxation
Clean Fuels Vehicle Act of 2021
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 24, 2021
Read twice and referred to the Committee on Finance.
Jun 24, 2021
Introduced in Senate
Plain-English summary
Clean Fuels Vehicle Act of 2021
This bill allows a new business-related tax credit through 2031 for the production of flexible fuel vehicles (i.e., motor vehicles engineered and designed to be operated on a petroleum fuel and on a methanol or ethanol fuel, or on any mixtures of such fuels). The amount of such credit in a taxable year is equal to the product of $200, and the number of vehicles produced and sold by the taxpayer to an unrelated person in the United States.
The bill also repeals limitations on manufacturing incentives for dual fuel automobiles and repeals the maximum fuel economy increase for alternative fuel automobiles.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1